VRIG vs. MNHAX
Compare and contrast key facts about Invesco Variable Rate Investment Grade ETF (VRIG) and Manning & Napier High Yield Bond I (MNHAX).
VRIG is an actively managed fund by Invesco. It was launched on Sep 20, 2016. MNHAX is managed by Manning & Napier. It was launched on Aug 1, 2012.
Performance
VRIG vs. MNHAX - Performance Comparison
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VRIG vs. MNHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRIG Invesco Variable Rate Investment Grade ETF | 0.92% | 5.05% | 6.81% | 7.37% | 0.99% | 1.06% | 1.76% | 4.57% | 0.51% | 3.20% |
MNHAX Manning & Napier High Yield Bond I | -1.05% | 6.90% | 9.29% | 13.49% | -7.38% | 10.27% | 6.58% | 14.25% | -0.98% | 8.68% |
Returns By Period
In the year-to-date period, VRIG achieves a 0.92% return, which is significantly higher than MNHAX's -1.05% return.
VRIG
- 1D
- 0.02%
- 1M
- 0.09%
- YTD
- 0.92%
- 6M
- 2.14%
- 1Y
- 4.84%
- 3Y*
- 6.25%
- 5Y*
- 4.30%
- 10Y*
- —
MNHAX
- 1D
- 0.63%
- 1M
- -1.75%
- YTD
- -1.05%
- 6M
- 0.13%
- 1Y
- 4.72%
- 3Y*
- 8.65%
- 5Y*
- 5.44%
- 10Y*
- 6.80%
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VRIG vs. MNHAX - Expense Ratio Comparison
VRIG has a 0.30% expense ratio, which is lower than MNHAX's 0.66% expense ratio.
Return for Risk
VRIG vs. MNHAX — Risk / Return Rank
VRIG
MNHAX
VRIG vs. MNHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Investment Grade ETF (VRIG) and Manning & Napier High Yield Bond I (MNHAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| VRIG | MNHAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.22 | 1.31 | +3.91 |
Sortino ratioReturn per unit of downside risk | 6.83 | 1.70 | +5.13 |
Omega ratioGain probability vs. loss probability | 3.22 | 1.30 | +1.92 |
Calmar ratioReturn relative to maximum drawdown | 6.23 | 1.39 | +4.84 |
Martin ratioReturn relative to average drawdown | 52.58 | 5.43 | +47.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VRIG | MNHAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.22 | 1.31 | +3.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.35 | 0.38 | +2.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.66 | +0.24 |
Correlation
The correlation between VRIG and MNHAX is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VRIG vs. MNHAX - Dividend Comparison
VRIG's dividend yield for the trailing twelve months is around 4.89%, less than MNHAX's 6.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VRIG Invesco Variable Rate Investment Grade ETF | 4.89% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% | 0.00% |
MNHAX Manning & Napier High Yield Bond I | 6.60% | 7.29% | 7.02% | 8.59% | 7.61% | 9.81% | 6.26% | 8.24% | 6.38% | 6.20% | 7.68% | 6.64% |
Drawdowns
VRIG vs. MNHAX - Drawdown Comparison
The maximum VRIG drawdown since its inception was -13.04%, smaller than the maximum MNHAX drawdown of -20.13%. Use the drawdown chart below to compare losses from any high point for VRIG and MNHAX.
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Drawdown Indicators
| VRIG | MNHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -20.13% | +7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.78% | -3.40% | +2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -2.28% | -20.13% | +17.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.13% | — |
Current DrawdownCurrent decline from peak | 0.00% | -13.52% | +13.52% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -3.41% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 0.87% | -0.78% |
Volatility
VRIG vs. MNHAX - Volatility Comparison
The current volatility for Invesco Variable Rate Investment Grade ETF (VRIG) is 0.18%, while Manning & Napier High Yield Bond I (MNHAX) has a volatility of 1.84%. This indicates that VRIG experiences smaller price fluctuations and is considered to be less risky than MNHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRIG | MNHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 1.84% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 0.36% | 2.29% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.93% | 3.79% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.29% | 14.41% | -13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 10.69% | -6.86% |